Russian steelmaker MMK's full year net profit for 2017 was $7.546 billion, an increase of 34 percent compared to the previous year, the company said on Tuesday.
MMK said its net profit for 2017 was $1.189 billion.
"This was due to the increase in average sales prices, recovery of the share of domestic sales, and a stronger ruble rate," the company said.
The Russian company said that seasonality and scheduled equipment maintenance would affect sales volumes in the first quarter of 2018.
"At the same time, this should be balanced by higher prices on export and domestic markets," it added.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr
